All Forum Posts by: Lee G.

Hi @Abel Curiel - can you share the consultant's name with me as well? 

Yes, agreed. This is something because of the debt used that can cause you to crash and burn really hard if you don't have reserves. If he had a 100K and wanted to put 50K into REI then fine as well.

It depends on what you want to do and how much time you have to devote to real estate investing. Don't let the gurus floating around tell you that you have to fix and flip or buy multifamily to be a real estate investor. Make no mistake, being an operator is being a business owner. If you feel like you don't want to own a business, investing passively as you have done is ok... and give yourself permission to be ok with it. For some people, investing in real estate passively, as you have done, is best because they have other obligations such as a high-powered job, family or just don't want to deal with the operational side of the business. 

If you decide you want to be an operator, look at real estate expansively. Think about all of the strip centers you drive by, the vacant parcels that could be for a new home(s) or the warehouses where you your stuff from Amazon sits before your order. $50,000 is plenty of money to start. You just need to figure out where.

My story started with $85,000. My first deals were a couple small multifamily properties. I lived in one of the units for awhile and then started wholesaling and fixing and flipping some homes. This grew into a land development business where we focus on building subdivisions in North Texas and the Pacific Northwest. I still own residential and commercial (mainly retail) real estate in my personal portfolio.

The bottom line - there is ZERO need to get engaged with a guru. There are literally hundreds of great books you can get (BP has a great selection here) and thousands of hours of great content on YouTube that will teach you everything you need to know. Maybe buy a dozen of the books on the BP site and spend the next six months reading? That's more or less how I started but ultimately, the biggest thing was taking action and actually doing a deal. 

And please forgive my spelling... I swear I can spell maintenance :-) 

Where are you in the process? Do you have entitled lots or are you still going through that process? 

I manage a bunch of properties remotely. I'm wondering if anyone has a regular maintenance checklist that they would share? I found a home inspector who will do an inspection every month for me and I'd like for him to have a list that he can check off and I can subsequently hand off to my handyman. 

TIA! 

@Stephen Lay - are you Seattle or Boise based? I'm happy to grab a coffee with you if the later. 

@Adam Fleck - Sure. Send me a PM and we can connect. 

@Stephen Lay - No. We are a developer and homebuilder. It makes little sense given our return on capital to keep and rent the homes. Our smallest deal has been 11 homes with a typical deal being 20-30 lots and homes. We completed 90 lots in 2019 and have over 200 lots on the docket for 2020. 

@Corby Goade and @Hugo Hernandez - how about a threesome? :-)